Boost your super

It’s never too late.

Thanks to tax concessions, government benefits and compounding interest, paying extra money into your super can be a great idea.

While it might seem that retirement is a long way off, the sooner you start, the better.

Why it’s a good idea

  • When you retire, which could be another 30 to 40 years away, you’ll need to live off the money you earn from your super.
  • Because the cost of living increases, by the time you retire you’ll probably need more money than you think.
  • When you retire you might want to travel, buy a new car or treat yourself with something a little extra.
  • Due the tax benefits on super, it’s a cost-effective way to invest. 

What works best for you?
 

There are different ways you can boost your super.

Each option might suit you at different times in your life. 

See the tables below to see what could work for you.

Sort out your super

OpportunitiesAboutBenefit
Claim your lost super We can find any lost super you might have on your behalf.Find and dust off any unclaimed super you might have and put it to work for your retirement.
Rollover your superCombine your super accounts into one.

 

Save on fees, reduce paperwork and make it easier to keep track of your super.
Selecting a suitable investment optionSelect one or a combination of our investment options.Selecting the right option(s) can allow your super to grow in line with your expectations.

Boost your super with your before-tax income

OpportunityAboutBenefitMay suit
Salary sacrificeYou give up some pre-tax income (i.e. your take-home pay) and put it into your super instead (up to the relevant cap).Boost your super and, if you’re a higher-income earner, save on tax.Those earning more than $37,000.

Boost your super with your after-tax income

OpportunityAboutBenefitMay suit
Personal contributions

 

Make a contribution to your LUCRF Super account using your after-tax money (up to the relevant cap).

 

You can boost your super considerably. It may also entitle you to one of the benefits below.

 

Everyone.

 

Government co-contributions

 

For every $1 you contribute, you receive up to $0.50 from the government.

 

You can receive up to $500 from the government.

 

Those earning less than $53,564 p.a.

 

Spouse contributions

 

If your spouse is on a low or no income, you can contribute to their super account and receive a tax offset.

 

Boost your spouse’s super and you may receive an 18% tax offset up to $540.

 

Those whose spouse earns less than $40,000.

 

Other government initiatives

OpportunityAboutBenefitMay suit $
Low Income Super Tax Offset Contributions (LISTO)

If you’re a low-income earner, the government may refund or offset the tax you paid on your before-tax contributions.

If a before-tax contribution is made, (this can include an SG contribution) you can receive up to $500 from the government back into your super.Those earning less than $37,000.

*If you need further help to work out how to give your super a boost, contact us on 1300 130 780.